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a lot to make america safer, but we are not yet safe. and clearly, because of our foreign policy, because of the freedoms we enjoy, there are individuals here in this country and certainly around the world who do not like america. they want to bring harm to america. and it's for that reason that we do have all of the laws we have put in place following 9/11 to ensure that we make america safe as possible, consistent with the protections provided under the constitution. >> okay. but do you think new york police commissioner chief ray kelly, who is probably one of the greatest in the history of the city, all right, really. they, of course, have a whole anti-terrorism, counterterrorism unit. they also, general gonzalez, they also monitor the muslim community. that is not to say that all muslims are radical jihadists, but they do monitor the muslim community. they take a lot of flack for it from liberals and left and certain media people. but that's what they do. when you look at this story, sir, in a sense, i hate to say this, but it's all the same. all these things. young, radical
think for the foreign exchange market, it's more a question of policy action. and now, because we're in this limbo, that leaves sterling a little bit of limbo. >> meanwhile, the treasury there is targeting sales of 4 to 5 billion sales in six-month and is 1-month t bills. yes, same with italian yields, as well, michael. are we now at the low point in the cycle for spanish and italian yields? who is going to drive them lower from here and why would you? >> i think the market has seen a lot of liquidity expansion. first from the fed and then lastly from the bank of japan. and combined with the renewed commitment from the ecb to protect the euro, this has depressed yields to these kind of levels. i think it's difficult to see us going dramatically further. and if anything, strategically, we think that the three major problems in europe, the recession, inconsistent crisis management and rising political and social backlash against austerity are likely to come through and that leaves spain and italy very vulnerable to a sharp increase in yields. we're looking, for example, for 10-year
in our country and our international security policies must be changed to reflect that, to train foreign terrorists who hate america, are at war with innocent americans and its institutions and that's why i say it's really time for a tougher and stronger new policies in order to protect america in its people. yes, immigration will be a part of our great country, and it also has to be controlled. >> do you think it ultimately has to change the fabric and culture of boston? >> there are some people that want to keep it the way it is. i want to make sure that public safetiet and security of innocent people is protected. that to me is the most fundamental issue and, yes, we'll protect our sacred liberties and freedoms, let's make sure we also protect innocent people from terrorist activities. >> ray flinn served as mayor of boston from 1994 to 1993 and thank you for joining us. >> we'll slip in a quick break. the latest situation on what's happening in boston and watertown. residents under lockdown. there's a shot of them earlier, but something is happening in watertown. we'll let you know i
is not an investment but an insurance policy against the collapse of the dollar. when your cost of insurance goes down, it means you're healthier. the chicken little scenario, larry, we run trillion-dollar deficits, borrow half from foreigners, they'll stop lending us money or at least not at low rates and we'll crash. now, that's not going to happen. because of the energy boom, we're going to have the first trade surplus in a generation by 2020, as things are going. and that means we can finance things deficits as far as the eye can see. doesn't mean the economy isn't weak. we will have a deficit. the good news is, our credit is going to be good. the rest will keep lending us money at low interest rates and that's a big plus for the stock market. >> peter schiff, an interesting take that david goldman has used and i've given him a hat tip for it. energy independence, we don't have to import from the saudis other other people, the trade baume' go into surplus. that would be good for the dollar and that in turn would really crush gold. that's a strong dollar, not the volcker way, peter, as you pointed
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